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Proceed to Seller. <br />7. Buyer has cited the impact of Covid-19 on the commercial/retail sector as reason to <br />ask for additional time to complete project. <br />8. Buyer is offering to provide $10,000 in non-refundable Earnest Money to extend <br />the Closing date to July 15, 2022, and certificates of occupancy date for Building 1 <br />to January 15, 2023 and Building 2 to August 15, 2023. <br />9. The Seller has received $40,000 in non-refundable Earnest Money from the Buyer. <br />10. Seller is willing to extend the Closing Date and Certificate(s) of Occupancy Dates <br />due to the impacts of COVID-19 on the commercial/retail sector in accordance <br />with the terms set forth below. <br />11. The legal description of the subject property in the PurchaseAgreement and First <br />Amendment to Purchase Agreement is Lots 1, 2 and 3, Block 1 COR TWO subject <br />to easements as shown on Plat), Anoka County, Minnesota. (the "Property") and is <br />not being modified. <br />Agreement <br />In consideration for the mutual promises set forth below, the parties agree as <br />follows: <br />1. The above recitals are incorporated into the Agreement. <br />2. The Buyer will provide $10,000 in non refundable additional Earnest Money upon <br />execution this the Fourth Amendment to Purchase Agreement <br />3. The Closing Date is hereby extended from July 15, 2021 to July 15, <br />2022. <br />4. The certificate(s) of occupancy dates are extended for construction of <br />Building 1 to January 15, 2023 and for construction of Building 2 to August <br />15, 2023. The penalty provision of $150,000 remains in place if Building 2 <br />is not constructed according to the terms and conditions set forth in the <br />original Purchase Agreement. <br />5. The following term is removed from the Purchase Agreement: "The required <br />certificate of occupancy date for the construction of Building 2 can be extended in <br />one month increments with provision of $5,000 in Non-refundable Earnest Money <br />for each additional month beyond August 15, 2022, up to 6 months, or $30,000. The <br />required construction of Building 2 certificate of occupancy date will not be <br />extended past February 15, 2023." <br />6. Buyer acknowledges that the Inspection Period expired on July 15, 2019 and thata <br />Notice to Proceed was provided to the Seller. <br />7. All other terms of the Original Purchase Agreement and First Amendment to <br />